Global Distribution Transformers Market 2019-2023
About this market
The increase in demand for power in upstream oil and gas industry in the US is one of the critical factors expected to trigger the market’s growth during the forecast period. Shale production has increased significantly over the last few years and is expected to grow further as oil and gas companies invest in new shale reserves. As a result, most companies are installing new transmission and distribution infrastructure projects near oil and gas facilities. Furthermore, shale drilling companies are building their own transmission and distribution infrastructure for catering the growing demand for power, in turn, driving the distribution transformers market growth in the forthcoming years. Technavio’s analysts have predicted that the distribution transformers market will register a CAGR of 3% by 2023.
Rising requirements for power from residential, industrial, and commercial sectors
One of the growth drivers of the global distribution transformers market is the rising requirements for power from residential, industrial, and commercial sectors. The rising demand for power in different end-user sectors is expected to increase the need for distribution transformers during the forecast period.
Volatile raw material prices
One of the challenges in the growth of global distribution transformers market is the volatile raw material prices. The fluctuation in raw material prices can also impact the cost of digital transformers which will hamper the growth of the global distribution transformers market.
For the detailed list of factors that will drive and challenge the growth of the distribution transformers market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several market players. Various digital transformers vendors in the market are focusing on developing transformers that use natural ester as an insulation and coolant fluid. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.